Defendant Name: Comverse Technology, Inc.

Defendant Type: Public Company

Document Reference: court_doc2_09-cv-02588

Document Details

Legal Case Name SEC v. Comverse Technology, Inc.
Document Name Final Judgment as to Defendant Comverse Technology, Inc.
Document Date 25-Jun-2009
Document Format Civil Proceeding
Case Number 09-cv-02588
Federal District Court New York, Eastern District of New York
Allegation Type Issuer Reporting and Disclosure
Document Summary The Court stated: "Defendant Comverse Technology, Inc. ("Defendant" or "Comverse") . . . consented to the Court's jurisdiction over Defendant and the subject matter of this action; consented to entry of this Final Judgment without admitting or denying the allegations of the Complaint (except as to jurisdiction); waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment"

Disgorgement & Penalty Information

Resolutions
Enjoinment
the court directed that the Defendant must become current in its periodic reporting requirements pursuant to Section 13(a) Exchange Act and Rule 12b-20, 13a-1, and 13a-13, by the earlier of February 8, 2010 or the date on which Defendant files a restatement

Related Documents:

comp21090 18-Jun-2009 Complaint
Complaint
The Commission stated: "Comverse Technology, Inc. ("Comverse" or the "Company") engaged in two separate fraudulent schemes, during the course of more than a decade, to materially misstate its financial condition and performance metrics. The first scheme involved improper backdating of Comverse stock options. The second scheme involved improper accounting practices."
LR-21090 18-Jun-2009 Litigation Release
SEC Sues Comverse Technology, Inc. for Fraudulent Options Backdating and Earnings Management Schemes
The SEC stated that: "[It] filed a settled civil action in the United States District Court for the Eastern District of New York against Comverse Technology, Inc. ("Comverse") alleging that it engaged in two separate fraudulent schemes, during the course of more than a decade, to materially misstate its financial condition and performance metrics. According to the Complaint, as a result of its improper conduct, Comverse was able to portray itself as a company with steady, but measured growth, which regularly met analysts' earnings targets."

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